Tuesday, September 23, 2008

This is not your father's Oldsmobile (and not your grandfather's America)

Economists used to say that “When the US sneezes, the rest of the world catches a cold”. With the collapse of Lehman Brothers and the worst economic crisis since the great depression America's resemblance to it's mythic post-WWII image continues to fade.

Another quip from that era was “what’s good for General Motors is good for America". GM just announced that it will not be running spots in the upcoming Superbowl. How ominous that the once market leader in an industry whose sales were a world economic indicator will not be participating in the championship game of the sport that is, itself, the metaphor for American might and competitiveness.

From the NYTimes:

General Motors Corp. said that it would not broadcast an advertisement during the Super Bowl in 2009, as it continues to slash expenses as part of its restructuring plan. A spokeswoman for G.M. said that although the company would remain a sponsor of the N.F.L. and would probably broadcast ads before and after the game, it would not buy time during the event. She said the company had also made the decision because G.M. would not have a major vehicle introduction to promote at that time.

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